Here's a quick recap of the Patriots' transactions from Wednesday and their impact on their salary cap.
1.) They released Martellus Bennett. Christopher Price talked about its implications on the Patriots roster here. The move created $5,632,500 in cap space, as Bennett had a $6,187,500 cap number. Defensive lineman Adam Butler, who has a $555,000 salary, replaced Bennett on the Top 51 list. Please note that there is no dead money associated with the Bennett release.
This move leaves the Patriots with four tight ends on their roster.
--Rob Gronkowski, who is signed through the 2019 season with cap hits of $10,906,250 (2018) and $12,000,000 (2019).
--Dwayne Allen, who has a $5,000,000 cap number but can be released with no dead money.
--Jacob Hollister, who is signed through the 2019 season.
--Will Tye, who is signed through the 2018 season.
2.) The Patriots waived wide receiver/returner Bernard Reedy. This move created $75,000 in cap space -- a player with a $480,000 salary replaced Reedy on the Top 51 list. (Since there are so many Patriots with a $480,000 salary, I'm unsure which one will replace Reedy on the Top 51 list.)
Answering some logical follow-up questions:
Question: Did you expect the Bennett release?
Answer: Yes. Just thought that it would be closer to March 16 when his $2 million roster bonus was due.
Question: Did you expect Bennett to come back to the Patriots for a lesser amount?
Answer: No. The two sides have had plenty of opportunity to work out a restructure.
Question: Is Bennett eligible for the injury protection benefit?
Answer: As far as I can tell, no. His release did not mention that he failed a physical or had an injury at the time of the release. The injury protection benefit would pay Bennett $1.15 million starting Week 1.
Question: What moves do you expect the rest of this week?
Answer: In no particular order:
- Matthew Slater re-signing.
- Nate Ebner re-signing.
- Either a restructure of Allen's deal or his outright release.
